Harper College will be closed on Monday, January 20 in observance of Martin Luther King Jr. Day.
Website: lumistudioshoppe.com
If you’re feeling stressed, you’re not alone. The American Psychological Association found that 76% of adults recently surveyed reported suffering health impacts due to stress and 27% said they’re often so stressed they can’t function. The American Heart Association warns that chronic stress can affect mental and physical health, including anxiety, depression, concentration problems, heart disease, stroke and more.
Enter yoga. Harvard Medical School cites several studies that demonstrate the overall health benefits of this ancient practice. Yoga can help enhance muscle strength and endurance, flexibility, and cardio-respiratory fitness, as well as improving cognitive skills, elevating mood, and reducing anxiety.
“I love the way yoga helps to bring calmness into the chaos of everyday life,” says Molly Kranovich, owner of LUMI Studio + Shoppe. “It helped me immensely when I struggled with postpartum anxiety.” Kranovich began teaching yoga to share that gift with others. For six years, she held lessons in her home and at local churches, schools and daycare facilities. Her classes were so popular that she quickly outgrew her available space, leading her to open her studio in Mount Prospect. Born and raised in the northwest suburb, and now raising her four children there, she couldn’t imagine her business being anywhere else.
Passionate about helping people of all ages and levels, Kranovich is RYT200 certified through YogaFit, certified through Kidding Around Yoga and has certifications in Chair Yoga and Prenatal Yoga. Her studio offers a variety of classes led by a team of instructors, ranging from restoration and mindfulness to high-energy and power offerings. The popular Candlelight Flow class "shakes out the muck" of the day, a perfect metaphor for LUMI’s overall mission—to leave clients lighter and more at ease.
The studio isn’t just about yoga; Kranovich’s vision was always bigger than just offering classes. “After Covid, I noticed how many people struggled with mental health and were looking for a community,” she explains. “My dream was to build a space where people could gather to shop, take yoga classes and learn about many different wellness modalities.” LUMI transforms into a center for wellness workshops and creative endeavors every Wednesday evening. From reiki sessions to sound baths, crafting to tarot readings, the studio offers ways to explore wellness beyond the mat. Its retail shoppe proudly features over 40 local women vendors, selling everything from jewelry and candles to crystals and greeting cards. Honoring LUMI’s namesake, meaning bringer of light, Kranovich has created a beacon of light, warmth, and community for all who visit.
Kranovich originally contacted the Illinois SBDC at Harper College before she opened her brick-and-mortar location. She sought help with her business plan and other elements to launch her dream. Especially because her plans went beyond the traditional studio, she looked for guidance to determine if her ideas could be successful. Kranovich knew that starting a small business was no easy feat, with around 20% failing in their first year. Supported by expert guidance from her mentors, Kranovich launched a thriving business.
Upon LUMI’s one-year anniversary, Kranovich reached out to the SBDC again. She requested help with financial forecasting as she moved into her second year, as well as fine-tuning her website and expanding marketing efforts.
Marge Johnsson initially worked with Kranovich as she was making the initial move from home teaching to the LUMI Studio location. She helped the new business owner with her business plan, potential revenue streams and financial planning. Johnsson met with her again to assess operations after the first few months and, most recently, for a 12-month review. They evaluated the company’s performance, noting what was working and what needed adjustment. Johnsson modeled various strategies for achieving profitability, including revenue streams and pricing structures. She suggested using LivePlan business planning software to work on detailed revenue forecasts. This allows Kranovich to see the impacts of variables such as pricing changes in real time, helping her calibrate her approach.
Cheri Kretsinger provided her expertise in marketing. Kranovich credits her with providing invaluable insights, helping her navigate effective promotion strategies on a limited budget. The yoga industry has experienced tremendous growth in recent years, spurring opportunities as well as fierce competition. Kretsinger’s advice is helping Kranovich communicate LUMI’s unique selling point.
Jennie Johns offered critical advice to optimize LUMI’s website. According to a Blue Corona survey, 48% of people cited a business’s website design as the main factor in determining its credibility. John’s suggestions helped Kranovich streamline her online presence, making it easier for clients to book classes and engage with the business. “I learned so much about my website and ways I could tweak things to make it run more efficiently for my clients.”
“Often, being an entrepreneur can feel lonely,” Kranovich says. “It was so helpful for me to have the expertise of the mentors I worked with to help me feel like I was on the right path.” She enthusiastically recommends the Illinois SBDC at Harper College to anyone considering opening a small business or growing their current operation.
What’s in store for LUMI in the future? “Many more people coming to the studio, to join in community, experience yoga, find fun gifts for themselves or friends, and take workshops that make them feel good and have fun.”
Kranovich offers sage advice to future entrepreneurs: “Where you begin is not where you will end up. You don't have to have all of the answers or have everything just perfect to start—you just have to trust and begin!”